Biocept Inc (NASDAQ:BIOC) opened with a big gap up in the last trading session but the latter hours saw the stock losing all the morning gain and ending the session with a loss of 6.85%. The volume surged to 21 million against the daily average volume of 2.5 million only. Just in the previous trading session, the stock had rallied by 26.81% but the profit booking dragged it lower. The stock continues to trade in the middle of the huge 52-week range, as evident from the 52-week high of $7.72, 59.46% away and the 52-week low of $1.09, with the current trading price still 187% away from it.
Biocept Inc (NASDAQ:BIOC) has collaborated with the University of California, San Diego Moores Cancer Center. Blood samples for non-small cell lung cancer patients will be taken and tested with the company’s OncoCEE ™ LU platform and CEE Selector ™ technology for determination of the clinical utility of detecting biomarkers present in CTCs and ctDNA. For detecting and monitoring cancer mutations, a highly quantitative and sensitive blood based method is offered by Biocept Inc (NASDAQ:BIOC).
Technically, the stock is trading in a broad range of $2.00-$4.50 for the last 6-8 months. Attempts to break out of the range on both directions have failed so far. The level of $2 has been long acted as an excellent support and though the bears managed to break it once, they failed to keep the price below that level for long.
The long term picture shows the price getting resisted twice from the $10 levels in the last decade and the price bouncing from $2 levels the same number of times. So a very aggressive investor may try some high risk bottom fishing in the area of $1-$2 for a possible spectacular return in the coming months.
